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![ThinkNow Retail™ Hispanic Holiday Shopping Trends [SNAPSHOT] 2016 | Multicultural Marketing | Scoop.it](https://img.scoop.it/lxUMKGlp7hnCaykgcrSDmTl72eJkfbmt4t8yenImKBVvK0kTmF0xjctABnaLJIm9)
Hispanic, African-American, and Asian consumers - learn how each group’s holiday shopping habits are similar and different to each other 
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The right content, to the right audience, through the right medium. It sounds simple, but crafting a solid engagement and growth strategy requires an intimate knowledge of your consumer. Lexus knows this well. Since 2012, the luxury brand has made concerted efforts to target the Hispanic segment, including increasing their Spanish-language TV investment nationally... Read more »
Sandra Diaz's insight:
Lexus case study: In 2015, Hispanics contributed 26% of year-over-year sales growth for the brand (vs. just 10% for total market)
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Today, there are 55 million Hispanics in the United States, representing 18 percent of the population and spending power of $1.5 trillion. Almost 60 percent of Hispanics are Millennials or younger, and they account for 80 percent of segment growth, making Hispanic shoppers vital for any manufacturer or retailer eager to grow sales and market share, according to new research from data analytics provider IRI.
Sandra Diaz's insight:
Can your challenger brand grow by engaging Hispanics? A recent IRI study confirmed that Hispanics are more likely to go shopping without a list and their product choices are less likely to be driven by habit than non-Hispanics. Plus, Hispanics are also significantly more influenced than non-Hispanics by social media.
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Findings from the U.S. Census Bureau's inaugural Annual Survey of Entrepreneurs providing a portrait of America's business owners.
Sandra Diaz's insight:
B2B multicultural marketing opportunities: more than half of U.S. minority businesses with paid employees are Asian-owned, 1/3 are Hispanic-owned. 17.5% of businesses with paid employees are minority-owned.
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The “rules” for Hispanic shopper marketing were all but turned on its head as the demographic became larger and more complex, and as data created “unprecedented” number of ways to target.
Sandra Diaz's insight:
Tips shared include: targeting is both art and science and thus requires testing; develop unique solutions to engage bicultural Hispanics; find common behaviors across Hispanic sub-targets (ex: all Hispanics seek value).
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Path to citizenship or not, the Hispanic vote boom is on the way.
Sandra Diaz's insight:
Good Hispanic vs. non-Hispanic voting statistics
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Acculturation continues to be contested in our industry. The death of the Spanish language continues to be trumpeted. The need for specific Hispanic marketing efforts has even been called into question with the growing popularity of Total Market...
Sandra Diaz's insight:
This article discusses Digital Reculturation - "... the process of rediscovering one’s culture of origin/identification through digital representations of culture. They are not authentic representations of the culture of origin, but rather a “meme-ified” version. Viewing the "home" culture through a marketing filter makes it more accessible to second-, third-, and fourth-generation Hispanics who may not have a deep understanding of it, but can recall certain key cultural cues. While the meme can be deemed as inauthentic, the connection it invokes can be very real."
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Too many leaders still believe diversity doesn’t matter for company performance—or they can’t improve top team diversity anyway. Publicly firing a chairman won’t change these beliefs. What’s needed are facts that no C-suite leader can ignore. Let’s make the case.
Sandra Diaz's insight:
A McKinsey study found that at companies ranking in the top quartile of executive-board diversity (based on age, gender, and nationality), return on equity (ROE) was 53% higher, on average, than the ROE for those in the bottom quartile. Simultaneously, EBIT margins at the most diverse companies were 14% higher, on average.
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OPINION | With $1.5 trillion in purchasing power, Latinos refuse to be exploited or ignored.
Sandra Diaz's insight:
Herbalife has learned a costly lesson but they seem to have cracked the code on engaging Hispanics. Herbalife reported that their Hispanic reps drove 80% of the company’s sales.
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Proponents of the approach promised a new, innovative and inclusive approach for reaching The New America. However, despite articles, white papers and presentations, many marketers are still confused about what Total Market strategy is. The truth about Total Market strategy is the elephant in the room: It’s not working.
Sandra Diaz's insight:
Though ‘Total Market’ promises upfront inclusion of the needs of diverse cultural groups, in practice multicultural segments are being addressed via casting and work that is often stereotypical. And many marketers are now realizing that multicultural market share and customer-satisfaction gains made when ethnic agencies were used are evaporating.
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Younger, wealthier consumers & parents more likely to value multicultural cuisine, Harris Poll finds
A recent Harris Poll finding that the vast majority of Americans agree they love trying products and experiences outside their own culture likely explains why many of the emerging and fast-growing trends in food and beverage in the US originate
Sandra Diaz's insight:
32% of 18 to 34 year-old Millennials said it was very important to them to buy products with multicultural flavors. Compared to only 27% of consumers 35-54 years old, 20% of 55- to 64-year-olds and 21% of adults 65 years and older.
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Cultural Relevance Will Be Key To Connecting With Hispanics Via VR - 08/11/2016
Sandra Diaz's insight:
As brands like Toyota, IKEA, Kellogg’s and McDonalds expand the use of VR marketing to drive engagement, they will need to consider unique Hispanic needs as they are a segment more likely to purchase a VR product
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3 Reasons Gen Z Will Disrupt Multicultural Marketing Models - 08/04/2016
Sandra Diaz's insight:
Multiracial Gen Z will be a new type of cultural consumer who places weight on culture but may not necessarily be driven to purchase products or services that directly appeal to it. A better approach will be for brands to highlight Gen Z’s uniqueness or make them “look cool”
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According to Mintel Menu Insights, Mexican-inspired core menu items grew 5% in the first quarter of last year. Mexican food is now the third most popular food in the U.S. after American and Italian as 15% of main meal items featured on menus are Mexican-inspired.
Sandra Diaz's insight:
Can your brand grow by tapping mainstream interest in ethnic-inspired products? The key is to take on the challenge as marketing to passions.
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Study shows mortality rates differ for Hispanic subgroups in the U.S.
Sandra Diaz's insight:
New Avon Foundation study contributes to a critical first step to improving breast cancer prevention, diagnosis and care for Hispanic women by understanding where the greatest needs are. Breast cancer is the most commonly diagnosed cancer and leading cause of cancer death in Hispanic women, according to the American Cancer Society.
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For young minorities entering the tech industry, it can be a challenge managing their newfound tech wealth and setting expectations for how much of it they can share with their loved ones.
Sandra Diaz's insight:
One unique barrier faced by minority entrepreneurs is that rather than sourcing seed funding from family and friends, they may be more likely to be asked for financial help by their loved ones.
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From
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Research indicates a better way forward.
Sandra Diaz's insight:
On diversity retention and productivity: MIT Sloan & Kellogg researchers found that when the % of women (or minorities) is small, it is better for companies to emphasize equal treatment. Emphasizing the value and innovation resulting from their differences works only when the % is high.
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Key factors for long-term success of new Hispanic products
Sandra Diaz's insight:
Agree the best approach is to launch items that meet a Hispanic need but appeal to a broader mainstream audience.
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Jose Costa, Group President of Driven Brands, sat down with Portada to discuss the group's marketing strategy, and how they are seeking and engaging a wide variety of customers through both traditional and digital marketing efforts.
Sandra Diaz's insight:
Case study on thinking through multi-segment marketing (older/younger, Hispanic)
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In the age of the total market it is interesting to see how Verizon just introduced a campaign specifically targeting Hispanic Millennials led by actress Gina Rodriguez. Portada talked to Stephanie Shannon, Culture and Segment Strategist at Verizon.
Sandra Diaz's insight:
Case study on understanding and targeting Milennial Hispanics as a dynamic, influential and passionate opportunity segment
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In order to connect with the U.S.'s largest and fastest growing consumer group, brands must develop new and better marketing tactics
Sandra Diaz's insight:
Not so new, but helpful reminder - here are the rules: 1. Be bilingual - 75% of Hispanics are either bilingual or use mainly Spanish
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Narrowing The Gap Between Shopper And Brand Objectives With A Bottom-Up Approach - 08/18/2016
Sandra Diaz's insight:
Padilla Foods’ El Yucateco hot sauce line turns to influencer campaigns to drive interest among a diverse U.S. audience.
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Sandra Diaz's insight:
This brand is collaborating with aboriginal communities in Taiwan. This new concept of co-design and cross-cultual collaboration allows this brand to partner with aboriginal communities to develop modern products and also to provide training.
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By Christina Choy, Insights Manager, Yahoo
Sandra Diaz's insight:
Hispanics watch more online video and less traditional TV than the general American population. Almost all Spanish-dominant Hispanics (94%) use mobile devices to watch online videos. Accessibility is a key factor. Brands have to think about putting a new combination of data, content experiences and technology to work.
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Marketing and strategy professional Daniel Villarroel talks about the differences between “multicultural marketing” and what today is known as “demographic targeting.”
Sandra Diaz's insight:
Agree with Daniel Villarroel that cultural/demographic expertise needs to go beyond a point person in an organization and that taking a look at retailer data provides insights on a brand’s appeal to diverse audiences
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Free download that points out 5 Hispanic nuances to drive your Holiday sales.